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Comcast Corp (CMCSA) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

Comcast Corp

CIK: 1166691 Ticker: CMCSA
        comcastlogo2a02a.jpg
PRESS RELEASE
COMCAST REPORTS 4th QUARTER AND FULL YEAR 2021 RESULTS
PHILADELPHIA - January 27, 2022… Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2021.
"Comcast’s strong operating and financial performance in 2021 was underscored by our highest full-year revenue, adjusted EBITDA, adjusted EPS, and free cash flow on record. We continue to execute extraordinarily well, strengthening our leadership position in connectivity, aggregation, and streaming, while working to have a lasting impact on our communities through our commitment to DE&I and digital equity. Looking ahead, we remain focused on our many exciting organic growth opportunities across all of our businesses. Our top priority is increasing the capacity of our network in the U.S. and further improving our world-class broadband experience. We are producing more of the premium content that our viewers love and continue to provide them with multiple ways to access it, including on Peacock while ramping construction of Epic Universe and welcoming even more guests to our Theme Parks. And, significantly, we are expanding the reach of our proprietary global technology platform and addressable customer base, starting with Sky Glass and XClass TV. Our confidence in the future is reflected in today’s announcement that we are increasing the dividend for the 14th consecutive year," commented Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation.
($ in millions, except per share data)
4th QuarterFull Year
Consolidated Results20212020Change20212020Change
Revenue $30,336 $27,708 9.5 %$116,385 $103,564 12.4 %
Net Income Attributable to Comcast$3,057 $3,380 (9.6 %)$14,159 $10,534 34.4 %
Adjusted Net Income1
$3,534 $2,617 35.1 %$15,045 $12,053 24.8 %
Adjusted EBITDA2
$8,411 $7,186 17.0 %$34,708 $30,826 12.6 %
Earnings per Share3
$0.66 $0.73 (9.6 %)$3.04 $2.28 33.3 %
Adjusted Earnings per Share1
$0.77 $0.56 37.5 %$3.23 $2.61 23.8 %
Net Cash Provided by Operating Activities$7,689 $5,042 52.5 %$29,146 $24,737 17.8 %
Free Cash Flow4
$3,784 $1,700 122.6 %$17,089 $13,280 28.7 %
For additional detail on segment revenue and expenses, customer metrics, capital expenditures, and free cash flow, please refer to the trending schedules on Comcast’s Investor Relations website at www.cmcsa.com.
Full Year 2021 Highlights:
Consolidated Adjusted EBITDA Increased 12.6% to $34.7 Billion; Adjusted EPS Increased 23.8% to $3.23; Generated Free Cash Flow of $17.1 Billion
Cable Communications Adjusted EBITDA Increased 11.2% and Adjusted EBITDA per Customer Relationship Increased 6.7%
Cable Communications Total Customer Relationship Net Additions Were 1.1 Million; Total Broadband Customer Net Additions Were 1.3 Million
Cable Communications Wireless Customer Line Net Additions Were 1.2 Million, the Best Annual Result Since Launch in 2017
Cable Communications Completed a Series of Groundbreaking Tests Demonstrating DOCSIS 4.0 Technology That Culminated in a World-First Test of a Prototype Modem Capable of Delivering Multi-gigabit Speeds to Homes; Paves the Way to Deliver Multi-gigabit Upload and Download Speeds Over Our Hybrid-fiber Coaxial Network
NBCUniversal Adjusted EBITDA Increased 6.0% to $5.7 Billion, Including Peacock Losses
Theme Parks Adjusted EBITDA Increased $1.7 Billion to $1.3 Billion. Continued to Recover Quickly from the Ongoing Negative Impacts of COVID-19, Benefiting from Strong Demand from Domestic Guests in the U.S. and Japan; Celebrated the Grand Opening of Universal Beijing Resort on September 20th
Peacock Monthly Active Accounts in the U.S. Reached 24.5 Million at Year-End. Introduced Peacock in Sky Territories, Beginning in the U.K. and Ireland
Sky Adjusted EBITDA Increased 20.8% to $2.4 Billion; On a Constant Currency Basis, Adjusted EBITDA Increased 10.2%


The following information was filed by Comcast Corp (CMCSA) on Thursday, January 27, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Comcast Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (Parenthetical)
Consolidated Statement Of Income
Commitments And Contingencies
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies - Summary Of Future Minimum Rental Commitments For Operating Leases (Details)
Commitments And Contingencies - Summary Of Operating Lease Assets And Liabilities Recorded In The Consolidated Balance Sheets (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Deferred Compensation Plans (Details)
Employee Benefit Plans - Narrative (Details)
Equity
Equity (Changes In Common Stock) (Details)
Equity (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity (Tables)
Equity (Weighted Average Common Shares Outstanding) (Details)
Equity - Narrative (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Amortization Of Intangible Assets (Details)
Goodwill And Intangible Assets - Change In Goodwill (Details)
Goodwill And Intangible Assets - Intangible Assets (Details)
Goodwill And Intangible Assets - Narrative (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Changes In The Valuation Allowance For Deferred Tax Assets (Details)
Income Taxes - Components Of Income Tax Expense (Details)
Income Taxes - Components Of Net Deferred Tax Liability (Details)
Income Taxes - Federal Statutory (Details)
Income Taxes - Income Before Income Taxes (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits (Details)
Investments
Investments (Tables)
Investments - Equity Method Investments (Details)
Investments - Investment And Other Income (Loss), Net (Details)
Investments - Other Investments (Details)
Investments - Schedule Of Investments (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Debt Maturities (Details)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Schedule Of Debt Outstanding (Details)
Programming And Production Costs
Programming And Production Costs (Narrative) (Details)
Programming And Production Costs (Tables)
Programming And Production Costs - Capitalized Film And Television Costs (Details)
Programming And Production Costs - Estimated Future Amortization Expense For Capitalized Film And Television Costs (Details)
Programming And Production Costs - Programming And Production Expense (Details)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Revenue
Revenue (Tables)
Revenue - Changes In The Allowance For Doubtful Accounts (Details)
Revenue - Condensed Consolidated Balance Sheet (Details)
Revenue - Disaggregation Of Revenue (Details)
Revenue - Narrative (Details)
Revenue - Revenue By Geographic Location (Details)
Segment Information
Segment Information (Tables)
Segment Information - Financial Data (Details)
Segment Information - Intersegment Revenue (Details)
Segment Information - Narrative (Details)
Segment Information - Reconciliation Of Adjusted Ebitda From Segment To Consolidated Statements (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Narrative (Details)
Share-Based Compensation - Recognized Share-Based Compensation Expense (Details)
Share-Based Compensation - Restricted Share Units And Stock Option Fair Value (Details)
Share-Based Compensation - Stock Options And Restricted Share Units (Details)
Significant Transactions
Significant Transactions (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Cash Payments For Interest And Income Taxes (Details)
Supplemental Financial Information - Cash, Cash Equivalents And Restricted Cash (Details)
Supplemental Financial Information - Noncash Investing And Financing Activities (Details)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-K Annual Report
Accession Number: 0001166691-22-000009
Submitted to the SEC: Wed Feb 02 2022 3:15:17 PM EST
Accepted by the SEC: Wed Feb 02 2022
Period: Friday, December 31, 2021
Industry: Cable And Other Pay Television Services

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